Texas Permanent School Fund Corp Decreases Stock Holdings in UFP Industries, Inc. (NASDAQ:UFPI)

Texas Permanent School Fund Corp trimmed its stake in shares of UFP Industries, Inc. (NASDAQ:UFPI) by 12.5% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 47,334 shares of the construction company’s stock after selling 6,764 shares during the period. Texas Permanent School Fund Corp owned approximately 0.08% of UFP Industries worth $5,301,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently made changes to their positions in the stock. Foundry Partners LLC increased its holdings in UFP Industries by 13.1% during the first quarter. Foundry Partners LLC now owns 39,107 shares of the construction company’s stock valued at $4,811,000 after buying an additional 4,526 shares during the last quarter. Nordea Investment Management AB increased its holdings in UFP Industries by 28.6% during the first quarter. Nordea Investment Management AB now owns 114,762 shares of the construction company’s stock valued at $14,150,000 after buying an additional 25,508 shares during the last quarter. Harbor Capital Advisors Inc. increased its holdings in UFP Industries by 299.5% during the second quarter. Harbor Capital Advisors Inc. now owns 6,132 shares of the construction company’s stock valued at $687,000 after buying an additional 4,597 shares during the last quarter. Acadian Asset Management LLC purchased a new stake in UFP Industries during the first quarter valued at approximately $1,214,000. Finally, Empowered Funds LLC increased its holdings in UFP Industries by 14.9% during the first quarter. Empowered Funds LLC now owns 56,562 shares of the construction company’s stock valued at $6,958,000 after buying an additional 7,320 shares during the last quarter. 81.81% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have commented on the stock. Wedbush reaffirmed a “neutral” rating and set a $120.00 target price (up from $102.00) on shares of UFP Industries in a report on Tuesday, July 30th. BMO Capital Markets raised their price objective on shares of UFP Industries from $115.00 to $125.00 and gave the company a “market perform” rating in a research report on Wednesday, July 31st. StockNews.com downgraded shares of UFP Industries from a “strong-buy” rating to a “buy” rating in a research report on Friday, July 5th. Stifel Nicolaus raised their price objective on shares of UFP Industries from $125.00 to $157.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. Finally, Benchmark raised their price objective on shares of UFP Industries from $133.00 to $155.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $132.60.

UFP Industries Stock Performance

UFPI opened at $117.33 on Friday. The stock has a market capitalization of $7.25 billion, a price-to-earnings ratio of 14.59 and a beta of 1.39. The company has a fifty day moving average of $119.46 and a 200 day moving average of $117.21. UFP Industries, Inc. has a fifty-two week low of $90.62 and a fifty-two week high of $136.93. The company has a debt-to-equity ratio of 0.07, a quick ratio of 3.18 and a current ratio of 4.34.

UFP Industries (NASDAQ:UFPI) last posted its earnings results on Tuesday, July 30th. The construction company reported $2.05 earnings per share for the quarter, beating the consensus estimate of $2.03 by $0.02. The company had revenue of $1.90 billion during the quarter, compared to analysts’ expectations of $1.87 billion. UFP Industries had a net margin of 7.02% and a return on equity of 15.86%. UFP Industries’s quarterly revenue was down 6.9% on a year-over-year basis. During the same period last year, the company posted $2.36 earnings per share. As a group, sell-side analysts forecast that UFP Industries, Inc. will post 7.27 earnings per share for the current fiscal year.

UFP Industries Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, September 16th. Investors of record on Monday, September 2nd will be paid a dividend of $0.33 per share. The ex-dividend date is Friday, August 30th. This represents a $1.32 annualized dividend and a yield of 1.13%. UFP Industries’s payout ratio is 16.42%.

UFP Industries Company Profile

UFP Industries, Inc, through its subsidiaries, designs, manufactures, and markets wood and non-wood composites, and other materials in North America, Europe, Asia, and Australia. It operates through Retail, Packaging, and Construction segments. The Retail segment offers treated lumber products, including decking, fencing, lattice, and other products; pressure-treated and fire-retardant products used primarily for outdoor decking environments; and lawn and garden products, consisting of wood and vinyl fencing options, garden beds and planters, pergolas, picnic tables, and other landscaping products.